FX.co ★ Indicator analysis. GBP/USD daily review on November 3, 2021

Trend analysis (Fig. 1)

GBP / USD is likely to rise from 1.3611 (closing of yesterday's daily candle) to the 50% retracement level (yellow dashed line) - 1.3660, and then go further up to the 61.8% retracement level (yellow dashed line) - 1.3719.

Fig. 1 (daily chart)

Comprehensive analysis:

- Indicator analysis - uptrend;

- Fibonacci levels - uptrend;

- Volumes - uptrend;

- Candlestick analysis - uptrend;

- Trend analysis - uptrend;

- Bollinger bands - uptrend;

- Weekly chart - uptrend.

Conclusion: GBP/USD should increase from 1.3611 (closing of yesterday's daily candle) to the 50% retracement level (yellow dashed line) - 1.3660, and then continue rising to the 61.8% retracement level (yellow dashed line) - 1.3719.

That being said, there is little chance that after climbing from 1.3611 (closing of yesterday's daily candle) to the 50% retracement level (yellow dashed line) - 1.3660, GBP/USD will drop to the support line (blue bold line) - 1.3613.